U.K. Accountants in ‘Mental Health Crisis’ From Work Stress

April 26, 2019, 4:22 PM

Work stress has plunged the U.K. accounting profession into a “mental health crisis,” a survey released April 26 has concluded.

Three quarters of U.K. chartered accountants say that work has negatively affected them over the past year, with 61 percent saying it had hurt a close relationship, according to the Chartered Accountants’ Benevolent Association, the well-being charity set up on behalf of the Institute of Chartered Accountants in England and Wales.

  • U.K. research consulting firm Vitreous World questioned 251 accountants for CABA in November 2018 and found that close to a third complained of feeling stressed at work every day, with 41 percent saying they were overworked.
  • About 22 percent of people working for accounting firms thought of resigning at least once a week, compared to an average of 15 percent for all sectors, the survey for CABA found.
  • Fifty four percent of accountants work late each week and 47 percent take work home with them.
  • Accountants are nearly as stressed out as lawyers. About 37 percent of U.K. lawyers felt stressed at work every day, according to a recent LexisNexis Group Inc. report, compared to 31 percent of accountants

To contact the reporter on this story: Michael Kapoor in London at correspondents@bloomberglaw.com

To contact the editors responsible for this story: Jeff Harrington at jharrington@bloombergtax.com; Steven Marcy at smarcy@bloombergtax.com

To read more articles log in. To learn more about a subscription click here.